Cogeco Communications (TSE:CCA) Price Target Cut to C$90.00

Cogeco Communications (TSE:CCA) had its price objective decreased by TD Securities from C$93.00 to C$90.00 in a research report released on Monday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

A number of other equities analysts have also commented on CCA. BMO Capital Markets raised their price objective on shares of Cogeco Communications from C$64.00 to C$65.00 and gave the company a market perform rating in a research report on Friday, January 12th. Royal Bank of Canada cut their price objective on shares of Cogeco Communications from C$84.00 to C$76.00 and set a sector perform rating for the company in a research report on Wednesday, April 10th. CIBC dropped their target price on shares of Cogeco Communications from C$65.00 to C$63.00 and set a neutral rating for the company in a research report on Monday, December 18th. Desjardins dropped their target price on shares of Cogeco Communications from C$68.00 to C$64.00 and set a hold rating for the company in a research report on Monday. Finally, Canaccord Genuity Group dropped their target price on shares of Cogeco Communications from C$63.00 to C$60.00 and set a hold rating for the company in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of C$69.69.

Cogeco Communications Stock Performance

TSE CCA opened at C$55.70 on Monday. Cogeco Communications has a 52-week low of C$50.78 and a 52-week high of C$72.56. The company has a 50-day simple moving average of C$59.71 and a 200 day simple moving average of C$58.44. The company has a debt-to-equity ratio of 136.39, a quick ratio of 0.49 and a current ratio of 0.59. The company has a market capitalization of C$1.68 billion, a PE ratio of 6.69, a price-to-earnings-growth ratio of 4.77 and a beta of 0.47.

Cogeco Communications (TSE:CCA) last posted its earnings results on Thursday, April 11th. The company reported C$2.21 earnings per share for the quarter, topping the consensus estimate of C$1.88 by C$0.33. The firm had revenue of C$730.50 million during the quarter, compared to the consensus estimate of C$735.00 million. Cogeco Communications had a net margin of 12.47% and a return on equity of 11.58%. On average, research analysts predict that Cogeco Communications will post 8.4785185 EPS for the current year.

Cogeco Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.854 per share. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date is Wednesday, April 24th. Cogeco Communications’s dividend payout ratio (DPR) is presently 41.11%.

About Cogeco Communications

Cogeco Communications Inc operates as a telecommunications corporation in Canada and the United States. It operates in two segments, Canadian Telecommunications and American Telecommunications. The company offers Internet, video, and Internet protocol (IP) based telephony services to residential and small business customers through its two-way broadband fiber networks.